Bears crowded Dalal Street on Thursday after the bulls looked to regain control yesterday. Indian benchmarks were slaughered by a combination of shorts build-up as well as profit booking after yesterday's short covering rally. Financial, and technology stocks got hit post a disappointing Q3 performance by Infosys. Infrastructure companies' shares along with heavyweight Reliance Industries witnessed selling pressure, dragged the Nifty to close at a four-month low today.
The benchmark Nifty got badly bruised by 111.35 points to settle at 5,751.90. Deven Choksey, KR Choksey Securities is not hopeful that markets will hold strong levels. According to him, the pullback was never going to last because it lacked fresh buying.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
